Education, Careers & Professional News
Sky Is The Limit For An IIM Grad
With the increase in the number of IIM Graduates there has been a corresponding increase in the salary packages being offered to them. Gaurav Agarwal will be working in London for a big investment bank, by next year. The second year MBA student of Indian Institute of Management, Bangalore (IIM-B) has just been offered a whopping $1,93,000-pay packet (Rs 84.5 lakh). This is said to be the highest international offer ever made across all business schools in India.
Not Only Gaurav but Gauravs batchmate, Venkatesh Sankararaman has also been offered Rs 30 lakh per annum at the same banks Mumbai office. This is the highest domestic pay packet offered, so far, in business schools. These offers were made after the summer internships in April and May this year.
Last year, a student from ISB, Hyderabad broke the record for the highest foreign pay packet offer of $1,81,000 (Rs 80 lakh). The previous domestic high was Rs 25 lakh back in �00, while an ISB student was offered Rs 21 lakh last year.
Some 10 out of the 45 IIM-B students, who did their summer internship, an academic requirement at the institute, in New York, Tokyo, Singapore, Hong Kong, Nigeria, Ivory Coast and Czech Republic and the UK, have already received offers with an average salary of over $ 1,00,000 per annum. The number is expected to increase with some big firms like Goldman Sachs and HSBC likely to come out with their offers next week. Eight students have received offers from Indian companies. About 180 people are doing their second year MBA course at the institute.
Sources at IIM-Bs placement cell say that the increase in number of international offers is largely because of companies hiking their recruitment intake through the summer internships route this year.
Regular recruiters from IIM-B include Goldman Sachs, Lehman Brothers, Deutsche Bank, JP Morgan, HSBC, Barclays Capital, BNP Paribas and Bank of America